An Indian court has ruled that the country’s biggest refiner, Indian Oil Corp, must pay entry tax on the crude it supplies to a plant in a northern state, the company told the country’s stock exchange on Wednesday.
Finance Act 2011 involving Assessment year 2012-13 will be applicable for the subject Applied Direct Taxation (Intermediate), Applied indirect Taxation (Intermediate), & indirect & Direct Tax management (Final) for the purpose of June 2012 term of Examination Under revised syllabus 2008.
The Income Tax Department on Wednesday conducted searches at the premises of prominent Uttar Pradesh-based liquor baron and businessman Ponty Chadha, in the state and at a few locations in Delhi.
To prevent adverse impact of volatile forex market movement on corporates and their lenders, the Reserve Bank has directed banks to evaluate risks from unhedged foreign currency exposure of companies while extending them credit facilities.
Reserve Bank of India has said that all private sector banks will now be considered eligible to handle any Central or State Government at par with public sector banks. Till now, only three private banks, namely ICICI Bank Ltd, HDFC Bank Ltd and Axis Bank Ltd were appointed by RBI as its agents to carry out limited general banking business.
European Financial Stability Fund is the fund which has been built by the 27 members of the Eurozone to fight out the sovereign crisis. On 9th March 2010 the 27 euro nations gave birth to EFSF.EFSF was authorized to borrow upto €440 billion.
